Chemicals giant Ineos has announced a multi-million pound investment in a manufacturing site.

Ineos Oxide is to expand its Hull facility to increase production of ethyl acetate (EtAc) by 100,000 tonnes a year.

EtAc is in high demand for use in pharmaceuticals, cosmetics, inks and flexible packaging and the Hull plant is already running at full capacity.

Ineos said it was the first major UK investment decision to be made following the EU referendum vote and reflects its confidence in the UK economy.

Jim Ratcliffe, Ineos founder and chairman, said: "We believe in British manufacturing and will support it wherever we can. Our Hull plant is at capacity and this extra investment will enable us to significantly increase production that we will sell all over Europe and across the world."

Graham Beesley, chief executive of Ineos Oxide added: "We are the largest producer of EtAC in Europe and we are about to get a lot bigger. Growth in demand for our products is strong and this investment will support our customers' needs over the long term."